Johnson Controls Issues Senior Notes

MILWAUKEE, Nov. 7 -- Johnson Controls, Inc., announced that it has sold a total of $600 million of senior notes in a public offering led by ABN AMRO Inc., J.P. Morgan Securities Inc. and Goldman, Sachs & Co. Of the total, $250 million are two-year floating rate notes which were priced at par to yield 3-month LIBOR plus 60 basis points; in addition, $350 million are five-year fixed rate notes with a coupon of 5.0% that were priced at $99.812 to yield 5.043%. The yield equates to a reoffer spread of 155 basis points over comparable treasuries.

The proceeds of the offering will be used by Johnson Controls to repay existing commercial paper primarily associated with the European acquisitions of the automotive electronics business of Sagem SA, and Hoppecke Automotive GmbH & Co. KG, among other investments.

Johnson Controls is a global market leader in automotive systems and facility management and control. In the automotive market, it is a major supplier of seating and interior systems, and batteries. For nonresidential facilities, Johnson Controls provides building control systems and services, energy management and integrated facility management.

A prospectus for the offering can be obtained from either ABN AMRO Inc. at 181 West Madison, Suite 3104, Chicago, IL 60602 or J.P. Morgan Securities Inc. at 270 Park Avenue, New York, New York 10017.